Parol Evidence and Determining Ownership of Joint Bank Account

By rwithers | February 16, 2012

This post is from our good friend in Dean Mead’s litigation department, David P. Hathaway. Consider a situation where an elderly relative, your father (although it could be your mother, an aunt or an uncle), who had retired and moved from Ohio to Florida, has passed away. You know your father had a will and…

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Florida’s New Designated Representative Statute

By rwithers | January 9, 2012

Robert Naberhaus co-authored an article that was published in the Fall edition of the electronic version of ActionLine Vol. XXXIII, No. 1 – Fall 2011. The article is entitled: Secret Trusts: (Some) Questions and (Fewer) Answers About Florida’s New Designated Representative Statute By Robert J. Naberhaus III, Esq. (Dean Mead) and Mark R. Parthemer, Esq….

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Super Committee Gift Tax Rumor

By rwithers | November 8, 2011

The Joint Select Committee on Deficit Reduction (the “Super Committee”), a 12 member bipartisan Congressional committee, is scheduled to announce its proposals on November 23rd for reducing the national deficit by at least $1.5 trillion over the next 10 years. The Super Committee proposals may include changes to the current estate, gift and generation-skipping transfer…

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Form 8939 and Instructions

By rwithers | October 7, 2011

This is quick alert for our readers.  Yesterday, the IRS posted Form 8939, Allocation of Basis Increase for Property Acquired from a Decedent, and today, the IRS posted the instructions to the Form 8939.  The Form 8939 has been substantially revised since the last release, and this is the first set of instructions issued by…

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AICPA’s Comments on Notice 2011-66

By rwithers | September 14, 2011

On September 7, the AICPA Carryover Basis Task Force sent comments to the IRS on Notice 2011-66 making suggestions and requesting additional guidance on several issues, some of which are summarized below. They suggest a “policy of restraint” in auditing taxpayers having carryover basis issues for tax years after 3 years from the filing of the…

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Form 8939 Filing Deadline Extended

By rwithers | September 13, 2011

Today, pursuant to Notice 2011-76 (the “Notice”), the IRS extended the due date for filing the Form 8939 from November 15, 2011 to January 17, 2012.  This Notice is unexpected considering shortly ago on August 29, 2011 the IRS issued Notice 2011-66 extending the deadline for filing the Form 8939 to November  15, 2011.  Rev. Proc. 2011-41 was…

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